Uniqa increased profit in Q1 by 20%   

The Uniqa Group’s premiums written, including the savings portion of unit- and index-linked life insurance, fell by 5.4 per cent to 1,703.5 mn euros in the first three months of 2012 (1 – 3/2011: 1,799.9 mn) due to a significant decline in single premiums in the life insurance business. In contrast, premiums in the product areas with recurring premiums increased during the period by 2.6 per cent to 1,614.1 mn (1 – 3/2011: 1,573.1 mn).

The profit on ordinary activities increased in the 1st quarter of 2012 by 20.2 per cent to 54.4 mn (1–3/2011: 45.2 million). The net profit came to 40.4 mn in the 1stquarter of 2012 (1–3/2011: 33.7 mn), thus increasing by 20.0per cent. Consolidated profit also increased by 13.8per cent to 30.4 mn (1–3/2011: 26.7 mn). Earnings per share amounted to 0.21 euros (1–3/2011: 0.19).

Management remains confident that the group will improve the profit on ordinary activities in 2012 compared with 2010 (141.8 mn). However, this assumes that there are no serious setbacks on the capital markets, that the economic environment develops positively, and that claims due to natural disasters remain within a normal range.